In the United States there were legal reserve requirements on time and
In the United States there were legal reserve requirements on time and savings deposits during most of the post-World War II period. Therefore, the money multiplier for the M1 definition was
a. smaller when time and saving deposits increased.
b. smaller when time and saving deposits were assumed to be fixed.
c. larger when time and saving deposits increased.
d. smaller when time and saving deposits decreased.
ANSWER
A
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